After re-evaluating its proposal from earlier this year, We Energies is proposing a higher 2010 rate increase for its customers, due to the falling level of electricity sales.
If the rate increase is approved by the Wisconsin Public Utilities Commission, residential customers will see a 7-percent hike, We Energies spokesman Brian Manthey said.
"The proposed bill impact is about 4.86 percent for residential customers. However, the reduction of the Point Beach Power Plant credit by 2.7 will also show an increase on customer bills," Manthey said.
We Energies sold the Point Beach Power Plant in 2007. The net profits from that sale were allocated back to customers in 2008, 2009 and 2010.
"The percentage that was given back became lower each year," Manthey said. "So, it will be at something like .0058 per kwh in 2010 and be completely nonexistent in 2011. Consumers will automatically see an increase in their bills from that, which would be on top of the proposed rate increases."
According to Manthey, the new rate increase is part of the same proposal submitted to the Public Service Commission earlier this year. The company is allowed to re-evaluate the proposed plan before a deadline and adjust it according to current data, Manthey said.
"We were able to look at new actual data from this year. The sales forecast is going to be less then what we had thought earlier in the year. This new filing is just reflective of that," Manthey said.
The proposal will go back to the Public Service Commission, which will hold a public hearing and decide on an outcome of the plan by December.
We Energies seeks electricity rate hike
Operand type clash: text is incompatible with int
advertisement
Sorry, the story you tried to comment on is not accepting comments.